The Star Hotel of Milton has kept it local, as long-term owners the Stone family pass the keys to experienced Shoalhaven residents the Kapetanos family.
Fronting the Princes Highway on a 923sqm plot in the heart of the coastal town, the Star was established in 1860. It consists of a public bar that hosts live music, a bistro contracted to a third party and gaming room with 15 EGMs, generating average weekly revenue across departments of around $37k.
Vendors on the sale are Leslie Stone and her daughter Lucinda, who has assumed operations since her father passed away.
The family has owned the title for more than 30 years and this year opted to move on, listing the property in May. Marketing literature touted the asset’s potential in reclaiming the foodservice operation, revival of the 10 accommodation rooms and the benefit of ‘fresh eyes’ on the business.
Beyond interest in its upsides, the Stones were eager to see it sell to someone who recognised its place in Milton, around 220 kilometres south of Sydney, which continues to evolve as a sought-after lifestyle destination, being part of Shoalhaven LGA – one of NSW’s most desirable coastal regions.
The area is subject to consistent population growth and strong tourism visitation, seen in the 3.5-4 million visitor nights annually in the broader Shoalhaven region.
The Star benefits from a tightly controlled development environment that will serve to preserve its long-term value and limit competitors.
Stepping in at Milton is well-known local publicans Paul and Vicky Kapetanos, who already hold the Sussex Inlet Tavern and Marlin Hotel at Ulladulla. Their Shoalhaven presence made them ideal candidates for the Stones.
The Kapetanos’ are understood to be planning to reinvest in the historic pub, including resuming control of the bistro.
A sale price was not released but sources close to the deal suggest the freehold going concern sold for the anticipated $9 million.
Hotels in the area are prized and sales infrequent. Recent transactions include Hotel Australasia, the last pub in the stable of failed operator Virtical, sold to developer Lyon Group early 2025, seasoned operator Ned Kelly buying the Narooma Hotel FGC early this year, and in May sale of the Moruya Waterfront Hotel to Agnew Group.
The Stones engaged HTL Property’s Blake Edwards and Ben Kennedy to divest the family’s pub at Milton.
“The campaign attracted experienced publicans, private investors and hotel groups from across Australia,” reports Edwards.
“Eight formal offers is an outstanding result and reflects continued appetite for tightly held freehold hotels in premium lifestyle markets.
“Buyers remain drawn to the region’s tourism fundamentals, population growth and limited supply of quality freehold opportunities.”
